Published on 7/3/2014 in the Prospect News Structured Products Daily.
New Issue: RBC prices $4.86 million PLUS due 2015 linked to Russell 2000 index
By Jennifer Chiou
New York, July 3 – Royal Bank of Canada priced $4,861,600 of 0% Performance Leveraged Upside Securities due Aug. 4, 2015 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 300% of the index return, subject to a maximum return of 13%. If the index return is negative, investors will be fully exposed to the decline.
RBC Capital Markets, LLC is the agent with Morgan Stanley Wealth Management as distributor.
Issuer: | Royal Bank of Canada
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Issue: | Performance Leveraged Upside Securities
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Underlying index: | Russell 2000
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Amount: | $4,861,600
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Maturity: | Aug. 4, 2015
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any index gain, up to a maximum return of 13%; full exposure to any losses
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Initial level: | 1,192.964
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Pricing date: | June 30
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Settlement date: | July 3
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Agent: | RBC Capital Markets, LLC
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 2%
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Cusip: | 78011Q519
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